SICO BSC (c), a leading regional asset manager, broker, market maker, and investment bank with physical presence in Bahrain, Saudi Arabia, and the UAE, has signed a distribution agreement with AlBaraka Islamic Bank (ABIB), a premier provider of Shari’a-compliant banking solutions in Bahrain. This strategic partnership aims to offer ABIB’s Premium Banking clients attractive, Shari’a-compliant returns through SICO’s flagship Elzaad Sukuk Fund.
This collaboration is designed to broaden investor access to high-quality, Shari’a-compliant fixed-income investments. The Elzaad Sukuk Fund will be available to ABIB’s accredited Premium Banking clients through the bank’s platform.
Commenting on the agreement, Najla Al-Shirawi, Group CEO of SICO, said, “This partnership with AlBaraka Islamic Bank is a testament to our commitment to expanding investor access to high-quality, Shari’a-compliant solutions. Strategic alliances like this are vital to strengthening Bahrain’s investment landscape, broadening the investor base and delivering exceptional value to the bank’s clients who prioritize both ethical investing and strong financial returns.”
Dr Adel Abdulla Salem, CEO of AlBaraka Islamic Bank, added, “Our Premium Banking clients seek best-in-class, ethically sound investment opportunities. The Elzaad Sukuk Fund strengthens our offering with a Shari’a-compliant solution backed by a solid performance track record. We also look forward to expanding our collaboration with SICO by introducing additional Shari’a-compliant products in the future.””
The Elzaad Sukuk Fund is a Shari’a-compliant fixed-income fund investing in a diversified portfolio of sovereign, quasi-sovereign, and corporate Sukuk, primarily within the GCC. The fund’s size currently exceeds USD 50 million (BHD 18 million) in assets with a year to date yield of 6.5% , and it has recorded an annualized return of 6.8% since its launch in December 2023, representing cumulative growth of 12.8% to date. Approximately 20% of the portfolio is allocated to ESG-focused investments. The fund offers monthly liquidity and distributes dividends biannually, with a minimum investment requirement of USD 100,000 Its investors include a broad base of institutional and individual clients from Bahrain and across the GCC. The fund is regulated by the Central Bank of Bahrain and supported by third-party service providers including HSBC, Ernst & Young, and APEX. Performance figures are historical and subject to change, and investors should refer to the fund’s prospectus for complete details. Past performance is not indicative of future results.
About SICO
SICO is a leading regional asset manager, broker, and investment bank with USD 8.0 bn in assets under management (AUM). Today, SICO operates under a wholesale banking licence from the Central Bank of Bahrain and also oversees two wholly owned subsidiaries: an Abu Dhabi-based brokerage firm, SICO Invest, and a full-fledged capital markets services firm, SICO Capital, based in Saudi Arabia. Headquartered in the Kingdom of Bahrain with a growing regional and international presence, SICO has a well-established track record as a trusted regional bank offering a comprehensive suite of financial solutions, including asset management, brokerage, investment banking, and market making, backed by a robust and experienced research team that provides regional insight and analysis of more than 90 percent of the region’s major equities. Since inception in 1995, SICO has consistently outperformed the market and developed a solid base of institutional clients. Going forward, the bank’s continued growth will be guided by its commitments to strong corporate governance and developing trusting relationships with its clients. The bank will also continue to invest in its information technology capabilities and the human capital of its 150 exceptional employees.
Media Contact:
Ms. Nadeen Oweis
Head of Corporate Communications, SICO
Email: noweis@sicobank.com
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